Teacher Retirement System of Texas Acquires Shares of 55,575 Invesco Ltd. (NYSE:IVZ)

Teacher Retirement System of Texas acquired a new stake in Invesco Ltd. (NYSE:IVZ) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 55,575 shares of the asset manager’s stock, valued at approximately $843,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IVZ. Norges Bank bought a new position in shares of Invesco during the fourth quarter worth about $57,459,000. AQR Capital Management LLC lifted its position in shares of Invesco by 38.5% during the fourth quarter. AQR Capital Management LLC now owns 8,145,596 shares of the asset manager’s stock worth $142,385,000 after purchasing an additional 2,264,551 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of Invesco by 2,385.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,711,519 shares of the asset manager’s stock worth $29,301,000 after purchasing an additional 1,642,645 shares during the last quarter. Deutsche Bank AG lifted its position in shares of Invesco by 58.6% during the fourth quarter. Deutsche Bank AG now owns 3,334,598 shares of the asset manager’s stock worth $58,289,000 after purchasing an additional 1,232,359 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Invesco by 965.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 991,281 shares of the asset manager’s stock worth $17,328,000 after purchasing an additional 898,210 shares during the last quarter. 66.09% of the stock is owned by hedge funds and other institutional investors.

Invesco Price Performance

Shares of NYSE:IVZ opened at $17.36 on Tuesday. The firm’s 50 day moving average is $15.21 and its two-hundred day moving average is $15.78. Invesco Ltd. has a 52 week low of $11.60 and a 52 week high of $19.55. The firm has a market capitalization of $7.77 billion, a P/E ratio of 13.88, a PEG ratio of 1.55 and a beta of 1.48. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.81.

Invesco (NYSE:IVZ) last posted its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. Invesco had a net margin of 13.14% and a return on equity of 8.94%. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the business earned $0.33 earnings per share. Analysts anticipate that Invesco Ltd. will post 1.87 earnings per share for the current year.

Invesco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Wednesday, May 14th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date of this dividend was Wednesday, May 14th. This is a positive change from Invesco’s previous quarterly dividend of $0.21. Invesco’s dividend payout ratio (DPR) is currently 67.20%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on IVZ shares. Wells Fargo & Company raised shares of Invesco from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $14.50 to $18.00 in a research report on Friday. JPMorgan Chase & Co. reduced their price target on shares of Invesco from $19.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 16th. TD Cowen cut shares of Invesco from a “buy” rating to a “hold” rating and reduced their price target for the stock from $22.00 to $13.00 in a research report on Wednesday, April 9th. Evercore ISI increased their price target on shares of Invesco from $13.00 to $15.00 and gave the stock an “in-line” rating in a research report on Wednesday, April 23rd. Finally, Citigroup dropped their price objective on shares of Invesco from $20.00 to $16.00 and set a “neutral” rating on the stock in a research note on Monday, March 31st. Fifteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $17.52.

Invesco Profile

Invesco Ltd. is a publicly owned investment manager. The firm provides its services to retail clients, institutional clients, high-net worth clients, public entities, corporations, unions, non-profit organizations, endowments, foundations, pension funds, financial institutions, and sovereign wealth funds.